Important Cautionary Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. Forward-looking statements include statements that are not statements of historical facts and include, without limitation, statements regarding: (i) Textainer’s belief that owning containers benefits its shareholders as it earns significantly more on owned containers than managed containers; (ii) Textainer’s belief that additional liquidity from its year-to-date financings in the debt and equity markets puts it in a strong position to continue purchasing both new and used containers to meet the needs of shipping lines and address their increased performance; (iii) Textainer’s belief that, even if trade growth were to moderate in 2013, Textainer will continue to have solid fleet growth and performance because of shipping lines’ increased reliance on container lessors; (iv) industry data suggesting that container lessors are projected to provide more than 65% of all new container demand this year and could meet or exceed 70% next year; (v) Textainer’s expectation that its utilization levels will remain high, given that 81% of its fleet is subject to long-term and financing leases, increased sales of older containers, relatively low levels of container production and limited shipping line investment in containers; (vi) Textainer’s belief that it is positioned to continue to grow its market share, provide consistent financial results and maintain its market leading position; (vii) Textainer’s belief that acquisition of portions of its managed fleets are immediately accretive to earnings as the containers are on-lease from their purchase date and older containers generally have less depreciation expense than new containers; and (viii) Textainer’s belief that its focus on total shareholder return is the best way to maximize shareholder value. Readers are cautioned that these forward-looking statements involve risks and uncertainties, are only predictions and may differ materially from actual future events or results. These risks and uncertainties include, without limitation, the following items that could materially and negatively impact our business, results of operations, cash flows, financial condition and future prospects: any deceleration or reversal of the current domestic and global economic recoveries; lease rates may decrease and lessees may default, which could decrease revenue and increasing storage, repositioning, collection and recovery expenses; we own a large and growing number of containers in our fleet and are subject to significant ownership risk; further consolidation of container manufacturers or the disruption of manufacturing for the major manufacturers could result in higher new container prices and/or decreased supply of new containers and any increase in the cost or reduction in the supply of new containers; the demand for leased containers depends on many political and economic factors beyond Textainer's control; the demand for leased containers is partially tied to international trade and if this demand were to decrease due to increased barriers to trade, or for any other reason, it could reduce demand for intermodal container leasing; as we increase the number of containers in our owned fleet, we will have significant capital at risk and may need to incur more debt, which could result in financial instability; Textainer faces extensive competition in the container leasing industry; the international nature of the container shipping industry exposes Textainer to numerous risks; gains and losses associated with the disposition of used equipment may fluctuate; our indebtedness reduces our financial flexibility and could impede our ability to operate; and other risks and uncertainties, including those set forth in Textainer's filings with the Securities and Exchange Commission. For a discussion of some of these risks and uncertainties, see Item 3 "Key Information-- Risk Factors" in Textainer's Annual Report on Form 20-F/A filed with the Securities and Exchange Commission on June 27, 2012.
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